The European Commission (EC) has adopted a suite of technical standards for the development of consolidated tapes. The creation of consolidated tapes and the removal of obstacles to the development of consolidated tapes, were a key action point following the findings of the European MiFID/MIFIR review. The changes relate to technical standards for data reporting service providers, i.e. approved publication arrangements (APAs), approved reporting mechanisms (ARMs) and consolidated tape providers (CTPs). The technical standards adopted consist of implementing technical standards and three sets of regulatory technical standards, supplementing Regulation (EU) No 600/2014 (MIFIR).
The delegated regulations will be submitted to the European Parliament and Council for scrutiny. The EC has also confirmed its upcoming adoption of another delegated regulation regarding transparency rules.
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